MKTG Exam 2

What are the two functions of a brand?

What are the two parts that make up a brand?

Seeing a brand can cause consumers to automatically think of the attributes of the firm.

A "brand" is confined to the physical name or logo associated with the firm.

The primary value of a brand for consumers is the:

The brand resides in the consumer's:

What is Spreading Activation?

When does activation occur?

Addi is driving from Stillwater to Dallas, and sees a McDonald's sign with golden arches (but no words). She automatically begins to think of her hunger. What kind of cue activated this thought.

Brand awareness is associated with the ability of the brand to ______ who is offering a product or service, while brand association is associated with the ability of the brand to ______ from competitors.

Which of these is not a type of brand association?

Automaticity in branding context means:

A way of visually presenting where your brand is in consumer's minds is called a:

Brand associations within a brand map can also have ____ attached to them.

A brand map determines brand associations from the perspective of the:

When creating a brand map, a word cloud is always more useful than a table.

The added value delivered by the brand over the functional benefits or book value is called:

Book value of assets + Brand equity =

Brand equity starts as a _____ concept, but ends up having a real ____ effect

The "magic lesson" teaches us how to turn what into dollars?

Which of these is not a way to turn brand equity into dollar value?

If Oreo cookies come out with a new flavor of s'mores Oreo cookies, what are they using in order to turn brand equity into dollars?

The example of the purchase of the PanAm brand demonstrates how:

An agreement whereby a company permits another organization to use its brand on other products for a fee is defined as:

The brand name must provide ______ meaning for the product.

Which of these is not a branding strategy?

Unilever houses many brands, such as SlimFast nutrition drinks, Dove soap, and Skippy peanut butter, that all sell different products. What branding strategy is used here?

Which of these is not a benefit of individual branding?

Which of these is not a benefit of institutional branding?

Which of these companies is more likely to use an institutional branding strategy for a new product or service?

Which of these is not a benefit of sub-branding?

What is the main advantage of using a sub-branding strategy?

Mostly, business is made up of:

Face to Face communication is necessary for the true "frontline" transactions.

echnology has had little impact on organizational frontlines in most industries.

Rachel goes to Walmart to buy groceries and checks out with a cashier. When Rachel hands her cash to the Walmart employee what kind of interaction has taken place?

When Mariah needs money, she goes to an ATM instead of driving to her bank. When Mariah utilizes this ATM that represents her home bank, what kind og interaction has taken place?

Which of these types of interactions is the only one where human interaction is absolutely necessary?

The acronym LAURA helps us analyze and adjust when:

What is the definition of retailing?

What is the difference between retailing and wholesaling?

What is the difference between merchant and agent wholesalers?

Why do retailers exist?

Why is breaking bulk important?

What is the reason for so many levels existing between the producer and end-user?

When it comes to compensation in a channel of distribution, ____ plays the most important role.

Brands marketed as more luxury options (such as Lexus) are likely to utilize ____ distribution intensity.

Which of these is not a form of sharing economy?

Air BnB uses a model where the business integrates people who own homes into the market where consumers express demand. This is most accurately described as which type of sharing economy?

What has been a problem of implementing Peer to Peer sharing?

Of the sharing economy models, which is the most similar to traditional business models?

What is the largest inhibitor to the growth of sharing economies?

A platform that receives renting fees receives those fees from the ____ and shares those fees with the _____.

Which of these is not a party that shares and exchanges value in a sharing economy?

Which of these is not a potential benefit of increasing a sharing economy?

hat jobs are the most likely to be automated?

The degree to which an individual possesses an enduring belief in the importance of customer satisfaction is defined as:

Some people innately have more of a customer orientation than others.

It is often most important for which kind of employee to have a strong customer orientation?

When a supervisor doesn't emphasize the importance of customer satisfaction, employees with higher customer orientation:

When employees with high customer orientation are embedded in an organization that emphasizes (and benefits from) customer satisfaction, profits are likely to:

In most circumstances, higher levels of customer orientation lead to all of the following except:

Employees with high customer orientation will thrive in what kind of job?

What are inside sales?

A type of selling in which the organization is represented by multiple people, which might include a salesperson a technical support specialist, or others, is defined as:

What is a key account?

A form of personal selling that focuses on making an immediate sale with little or no concern for customer satisfaction or relationship development is defined as:

Transactional selling focuses on the customer relationship.

A form of personal selling that involves securing, developing, and maintaining long-term relationships with profitable customers is defined as:

Which of these is not a step in the personal selling process?

When does initial contact with the potential consumer occur?

What happens in the Presentation stage of the personal selling process?

SPIN selling is about asking questions of potential customers,

What is the point of SPIN selling?

The most successful salespeople focus on the beginning aspects of the SPIN method (e.g. Situational and Problem questions).

What is the definition of price?

____ is not about what we put into our product, it's what our customers get out of it.

he value created of a product or service is determined from the perspective of the:

Small changes in price do not have a very large impact on bottom line profits.

Which of these does not happen in a "smart industry"?

What is the first step in strategic pricing?

What is the key difference between cost-based pricing and value-based pricing?

Value based pricing will always be more profitable than cost-based pricing.

What is price skimming?

What is dynamic pricing?

What is flat-rate pricing?

Which of the following describes peak load or congestion pricing?

You do not need to understand margin and markup if you are using value-based pricing.

What is the main difference between the equations for margin and mark-up?

Mark-up can be greater than 100%

A grocer has purchased a truckload of frozen dinners for $3 each. The grocer operates on a margin of 30% for frozen food items. What is the retail price to the consumer?

The competitive retail price for a stereo system is $300. Retail stores normally have a margin of 30% for such items. Wholesalers normally have a margin of 20% for such items. The manufacturer's price is unknown. What steps should be taken to determine the manufacturer's highest price?

What is the breakeven point?

Assume that Netflix has introduced a new bundle service for their streaming services. Bundle 1 includes a base price of $9 to cover 25 hours of streaming for the month and variable price of $0.10 for every 30 minutes over that 25 hours. Bundle 2 includes no base price, but a variable price of $0.25 for every 30 minutes of streaming per month. When a consumer attempts to decide which bundle to use, what is he or she determining?

What is defined as responsiveness of demand to changes in price?

A change in price in an elastic market is likely to show ____ change in demand when compared to a similar change in an inelastic market.

In the Transactional Model of Communication, who fulfills the role of the Sender?

The message put in place by the Sender is always identical to the message received by the Receiver.

The Communications Triangle encompasses more than just promotional interactions.

The "company" in the Communications Triangle represents the: